Dao Gia Phuc, Ph.D

Vice- Director of American Law Center, Lecturer, International Faculty, University of Economics and Law

Abstract:

The World Trade Organization (WTO) was founded in 1995 on multilateral trade commitments between the Member States with the expectation of being an organization that promotes economic growth, enhances people's lives, and eliminates trade barriers. After 25 years of establishment and development, besides its recorded achievements, the WTO has faced many challenges in the 21st-century global economy, typically the proliferation of regional economic integrations and the rise of neo-protectionism in developed countries. The increased role of Free Trade Agreements at the bilateral and regional levels, especially the new generation agreements, has been significant in a changing world trade context that witnesses multilateral negotiations' slowdown. These agreements cover traditional negotiations and commitments far beyond the existing WTO rules regarding public interests, prompting signatory states to make domestic policy adjustments. This article focuses on analyzing the impact of implementing the commitments on labor and the environment of the European Union - Viet Nam Free Trade Agreement (FTA) - a new generation agreement to which Vietnam is a signatory, on Vietnam's domestic policy. It then provides some proposals to maximize the benefits gained from joining such an agreement.

Key words: Free trade agreements, multilateral trade negotiations, EVFTA, non-tariff measures, labor, environment.